CRZBY Commerzbank Ag (PK)

   By Cristina Roca 
 

Commerzbank AG said Monday that it has decided to terminate the sales process of its majority stake in Poland's mBank SA.

"Under the current market conditions which are dominated by the coronavirus crisis, a transaction doesn't seem feasible at reasonable terms," Commerzbank said.

The German lender was planning to sell its 69.3% stake in mBank as part of its new strategy.

Commerzbank said the Polish bank will now remain part of the group, and that it will continue to pursue its Commerzbank 5.0 strategy presented last September.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

May 11, 2020 08:51 ET (12:51 GMT)

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